Procyon Advisors LLC Sells 5,773 Shares of Illumina, Inc. (NASDAQ:ILMN)

Procyon Advisors LLC cut its holdings in shares of Illumina, Inc. (NASDAQ:ILMN) by 48.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,033 shares of the life sciences company’s stock after selling 5,773 shares during the period. Procyon Advisors LLC’s holdings in Illumina were worth $840,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ILMN. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Illumina in the third quarter valued at about $30,000. State of Wyoming bought a new position in Illumina during the second quarter worth about $32,000. Quent Capital LLC grew its holdings in Illumina by 71.2% during the third quarter. Quent Capital LLC now owns 250 shares of the life sciences company’s stock worth $34,000 after purchasing an additional 104 shares during the period. VisionPoint Advisory Group LLC grew its holdings in Illumina by 344.6% during the third quarter. VisionPoint Advisory Group LLC now owns 249 shares of the life sciences company’s stock worth $34,000 after purchasing an additional 193 shares during the period. Finally, ST Germain D J Co. Inc. bought a new position in Illumina during the second quarter worth about $36,000. 89.42% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Jacob Thaysen bought 7,330 shares of Illumina stock in a transaction dated Thursday, February 22nd. The stock was bought at an average cost of $135.29 per share, for a total transaction of $991,675.70. Following the purchase, the chief executive officer now directly owns 14,861 shares in the company, valued at approximately $2,010,544.69. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

Illumina Stock Performance

Illumina stock traded down $1.04 during trading hours on Thursday, reaching $137.64. 95,614 shares of the company’s stock were exchanged, compared to its average volume of 1,772,366. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.66. The firm’s 50 day simple moving average is $138.29 and its 200 day simple moving average is $129.31. Illumina, Inc. has a twelve month low of $89.00 and a twelve month high of $233.42.

Illumina (NASDAQ:ILMN) last issued its earnings results on Thursday, February 8th. The life sciences company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.01 by $0.13. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. Illumina had a positive return on equity of 2.20% and a negative net margin of 25.78%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.14 EPS. As a group, sell-side analysts predict that Illumina, Inc. will post 0.91 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $258.00 price target on shares of Illumina in a report on Friday, February 9th. Guggenheim initiated coverage on Illumina in a report on Thursday, December 14th. They set a “buy” rating and a $155.00 price objective for the company. StockNews.com upgraded Illumina from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Sanford C. Bernstein upgraded Illumina from an “underperform” rating to a “market perform” rating in a report on Friday, December 15th. Finally, HSBC cut Illumina from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $166.95.

About Illumina

Illumina, Inc offers sequencing- and array-based solutions for genetic and genomic analysis in the United States, Singapore, the United Kingdom, and internationally. It operates through Core Illumina and GRAIL segments. The company offers sequencing and array-based instruments and consumables, which include reagents, flow cells, and library preparation; whole-genome sequencing kits, which sequence entire genomes of various size and complexity; and targeted resequencing kits, which sequence exomes, specific genes, and RNA or other genomic regions of interest.